The Co-operative Bank current accounts for July 2024

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With the Co-op’s current accounts, you can get a range of benefits and features while also supporting their ethical approach to banking. It also runs switching incentives from time to time. Here’s an overview of the current accounts offered.

Compare The Co-operative Bank’s current accounts

1 - 4 of 4

Updated daily

Name	Product	Finder Score	Account fees	Funding requirement	Interest (AER)	Arranged overdraft	Incentive	Representative example	Link
Student Account Student Account		Not yet rated	£0	No minimum funding requirement	0% AER	N/A		Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 35.9% EAR variable.	View details	loading Fetching your data...
Cashminder Account Cashminder Account		Not yet rated	£0	No minimum funding requirement	0% AER				View details	loading Fetching your data...
Current Account Current Account Finder Award		4.0 ★★★★★	£0	No minimum funding requirement	0% AER	35.9% EAR variable		Aged 16 or over, or 18 or over when requesting the optional overdraft. Subject to status and eligibility. Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 35.9% EAR variable.	View details	loading Fetching your data...
Everyday Extra Account Everyday Extra Account Finder Award		Not yet rated	£15 per month	No minimum funding requirement	0% AER	35.9% EAR variable	£100 cash for accounts switched using the Current Account Switch Service.	To apply you must be between 18 & 79 years old. £15 account fee per month. Subject to status and eligibility. Exclusions & limitations apply. Offer is subject to eligibility criteria, which includes completing a full account switch, registering for online banking, making a minimum of five debit card payments, depositing at least £800 and having two active direct debits within 60 days of account opening. T&Cs apply. Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 35.9% EAR variable. T&Cs apply.	View details	loading Fetching your data...

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Types of current account from The Co-operative Bank

• Current account

  Attractive features of The Co-operative’s main current account include monthly rewards via their everyday rewards opt-in, a mobile app and no monthly fee.

• Everyday extra

  The everyday extra account comes with worldwide travel insurance, UK and European breakdown cover and mobile phone insurance from. You’ll need to hold a current account or current account plus with The Co-operative Bank in order to upgrade to this account, and you’ll need to pay a monthly fee.

• Cashminder

  This account offers a simplified way of managing funds for those who may not qualify for other accounts. There’s no overdraft facility, cheque book or monthly account fee, ensuring a greater degree of control over your spending. Unless you’re in financial difficulty, you can’t open this account if you already have an account with Co-operative Bank or smile.

• Student accounts

  The bank’s student account offers an interest-free overdraft, starting at £1,400.

The Co-operative bank offers bank accounts specially designed for students. Learn more about its student account offerings.

The Co-operative Bank customer reviews

In our independent 2024 customer satisfaction survey, 84% of The Co-Operative Bank’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s excellent customer service and straightforward bank accounts. However, some cited a lack in loyalty rewards and outdated online banking. Here’s what some of those Co-Operative Bank customers had to say:

“I love the bank’s ethos and transparency. It gives me everything I need from a bank online, great customer service too.”

“It is a great bank, that are reliable and are always there to help if you need them”

“This bank has always been perfect for my needs and has provided good service and ethical standards.”

On the Apple App Store, The Co-Operative Bank is rated 4.7 out of 5 stars from almost 48,000 reviews. On the Google Play Store, The Co-Operative Bank is rated 4.3 out of 5 stars from 33,000 reviews (February 2024).

Pros and cons of banking with The Co-operative Bank

Customer service information for The Co-operative Bank

Opening an account with The Co-operative Bank

You can apply to open an account either in store or online. Information you’ll need includes how much you earn (including pensions or benefits), any previous addresses from the last 3 years, the name and address of your employer and your current bank details. Your credit will be checked using a credit reference agency. You should hear a decision about your application within 5 working days. If you don’t hear from them, you can contact The Co-operative Bank by phone on +44(0)3457 212 212.

No one jumps for joy at the prospect of diving into T&Cs, but it's your shot to unveil any legal mysteries before tapping "I agree". Co-op's current account terms and conditions are more complex than the average we encountered while assessing 16 of the most popular UK account providers. They should take about 49 minutes to read.

Our verdict

The Co-Operative Bank offers great current accounts if you’re looking to earn rewards for spending with no monthly fees.

Frequently asked questions

• How do I close my account with The Co-operative Bank?

  If you want to close your account with The Co-op Bank, simply fill in their account closure form, which can be found on their website, and return to the provided address. If you want to see a copy of your payment transaction history, you can request one at any time within five years of your account’s closure.

• Will I be charged any fees?

  While the current and Cashminder accounts don’t charge monthly fees, there is a £15 fee for maintaining the everyday extra account. You may also incur charges for foreign transactions, electronic payments and copies of your statements

• Are there any overdraft charges?

  Yes. Overdraft charges for one charging period are capped at £60, which includes debit interest.

• Is The Co-operative Bank covered by the Financial Services Compensation Scheme?

  Yes, your eligible deposits up to a total of £85,000 are protected by the FSCS. Any deposits exceeding this number are unlikely to be covered.

Written by

Oli Collins

Writer

Oli is a writer for Finder UK. He writes guides, features and news about a range of topics, including banking, credit cards, mortgages and personal loans. He studies English Literature at the University of Sussex, and in his spare time enjoys cycling and playing the guitar, though not necessarily at the same time. See full bio

Co-written by

Nick Renaud-Komiya

Writer

Nick Renaud-Komiya has been a writer and reporter for nine years, covering a range of consumer issues from energy suppliers to banking and mortgage issues. He enjoys helping people take control of their personal finances and better understand their consumer rights. Nick’s consumer writing and money journalism has been featured in a range of outlets including MoneySavingExpert.com, The Sunday Mirror, The Independent and Money.co.uk. Outside of work Nick enjoys cooking and collecting old David Bowie merch. See full bio